Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,334 shares of the aerospace company’s stock after purchasing an additional 495 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Lockheed Martin were worth $6,965,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Virtue Capital Management LLC grew its stake in Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after acquiring an additional 1,192 shares in the last quarter. Bank of Montreal Can grew its position in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after purchasing an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after purchasing an additional 5,361 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after buying an additional 3,247 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its stake in Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after buying an additional 2,011 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. UBS Group reduced their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley dropped their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Royal Bank of Canada reduced their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $554.20.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 in the last quarter. 0.14% of the stock is owned by insiders.

Lockheed Martin Stock Performance

Shares of LMT opened at $466.48 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The stock has a market capitalization of $109.80 billion, a PE ratio of 20.96, a PEG ratio of 2.07 and a beta of 0.43. The stock has a 50-day simple moving average of $461.50 and a 200-day simple moving average of $516.12.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.83%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.